Rental income calculate help

[Gregory Brooks]

So I basically just whipped some numbers in after going to look at a house this pass Sunday. Let me know if from a beginning stand point if it makes sense for a half way decent deal. Sorry if it's a crap shoot, I'm still trying to figure the in's and out's here. Thank you!

Monthly Income: $1,150.00	Monthly Expenses: $750.72	Monthly Cashflow: $399.28	Pro Forma Cap Rate: 7.32%
NOI: $9,156.00	Total Cash Needed: $30,000.00	Cash on Cash ROI: 15.97%	Purchase Cap Rate: 9.16%

Total Monthly Income:$1,150.00

x50% for Expenses:$575.00Monthly

Payment/Interest Payment:$363.72 

Total Monthly Cashflow using 50% Rule:$211.28